Alexander Karen 4

What Happened

• Karen Alexander, Chief Financial Officer of Bakkt, sold 1,907 shares of Class A common stock on 2026-06-25 at $7.93 per share, generating proceeds of $15,123. The filing indicates the sale was a "sell-to-cover" to satisfy tax withholding obligations tied to the vesting of restricted stock units (RSUs).

Key Details

• Transaction date and price: 2026-06-25 — 1,907 shares at $7.93 each.
• Total proceeds reported: $15,123.
• Reason given (footnote F1): sale to cover tax obligations associated with RSU vesting.
• Footnote F2: filing also reports 14,576 shares of Class A common stock that remain subject to RSUs and performance stock units and are still vesting.
• Filing date: 2026-06-29 (the Form 4 was filed after the transaction). The filing does not state total shares owned by the insider after this sale.

Context

• Sell-to-cover transactions are common when RSUs vest and are typically executed solely to meet tax obligations; they are generally considered routine and do not, by themselves, indicate a change in insider sentiment. Purchases and larger, discretionary sales can be more informative about an insider’s view.